W'Bank Warns of Imminent Interest Rate Rise in Nigeria The World Bank has said that Nigeria, Angola and Sierra Leone, with double-digit inflation and weakened domestic currencies, will maintain a high interest rate for a long period and may even increase it. The bank said that...

Foreign Exchange Net Inflow Rises 67% to $27.6bn in 2024 The net foreign exchange inflows to Nigeria’s economy rose by 67.8 percent to $27.6 billion in the first half of 2024 (H1’24) from $16.44 billion in the corresponding period of 2023. This development was driven by...

Banks’ Deposits Rise 16.5% to N31trn Amidst Economic Hardship  Data from the Central Bank of Nigeria shows that banks’ demand deposits in the first nine months of this year rose by 16.5 percent to N31.08 trillion at the end of August from N26. 68 trillion...

Nigerians Loan on Lending Apps Rise N7.5trn in 2024 - Report The Central Bank of Nigeria says the number of approved digital lenders in the country has surged by 79.77 percent since April 2023, reflecting the rising credit appetite among Nigerians. This, the apex bank revealed...

Unsold Finished Goods Now N1.24trn – MAN The value of unsold finished goods inventory has surged by 42.93 percentage points in the first half of 2024, reaching 1.24 trillion against 869.37 billion recorded at the close of 2023, the Manufacturers Association of Nigeria (MAN) has...

Credit to Govt Rises by N11trn in One Month   Credit to the government surged by over N11 trillion in the month of August 2024, as high interest rates make government securities more attractive to investors. This is according to the latest money and credit stats data...